Tuesday January 17, 2017 - 11:30:39 GMT
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Trump Favors a weaker USD? Amazing Trader Early EURUSD Ideas for 17 January 2017
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The EURUSD has traded a wide range already today. Its LOD of 1.0594 was in range of the key 1.0600 level while the HOD at 1.0703 is testing the 1.0700 line. There is chatter today that the Trump administration will not be in favor of a strong dollar policy following tweets by the President-elect. This stands in contrast to long standing U.S. forex policies.
The 1.0700 line in EURUSD is the obvious psychological level. The next resistance comes in at 1.0732. Local support is 1.0682.
The EURGBP cross is currently steady on the day. Movements in and out of the EURGBP cross can often tip the scale in EURUSD activity. The GBPUSD is higher.
Tune in frequently to the GVI Forum for trading insights as the session unfolds.
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